by The rate of unemployment in Switzerland in the 4th quarter of 2020 was 4.9%, up from 3.9% in the 4th quarter of 2019. The same figures for the EU were 6.6% (Q4 2109) and 7.5% (Q4 2020). © Sergiomonti | Dreamstime.comUnemployment rates were highest among those aged 15-24 (7.3%) and 25-39 (5.4%). Those aged 40-54 (4.6%) and 55-64 (3.9%) had the lowest rates. The statistics don’t cover workers older than 64. In the 4th quarter of 2020, Swiss nationals (3.9%) fared better than foreigners (8.5%) and men (4.8%) better than women (5.5%). There were significant regional differences. Regional rates ranged from 3.0% (central Switzerland) to 7.9% (Lake Geneva). Zurich (4.7%) and Ticino (6.8%) were in the middle. The rate of unemployment in the Lake Geneva region (7.9%) in Q4 2020 was higher
Topics:
Investec considers the following as important: Business & Economy, Editor's Choice, Personal finance, Unemployment Switzerland, Unemployment Switzerland 2020
This could be interesting, too:
Investec writes Swiss to vote on tenancy laws this weekend
Investec writes Switzerland ranked second in digital competitiveness
Investec writes Swiss wages set to rise in 2025
Investec writes Federal Council hopes to boost savings with pension change
The rate of unemployment in Switzerland in the 4th quarter of 2020 was 4.9%, up from 3.9% in the 4th quarter of 2019. The same figures for the EU were 6.6% (Q4 2109) and 7.5% (Q4 2020).
Unemployment rates were highest among those aged 15-24 (7.3%) and 25-39 (5.4%). Those aged 40-54 (4.6%) and 55-64 (3.9%) had the lowest rates. The statistics don’t cover workers older than 64.
In the 4th quarter of 2020, Swiss nationals (3.9%) fared better than foreigners (8.5%) and men (4.8%) better than women (5.5%).
There were significant regional differences. Regional rates ranged from 3.0% (central Switzerland) to 7.9% (Lake Geneva). Zurich (4.7%) and Ticino (6.8%) were in the middle. The rate of unemployment in the Lake Geneva region (7.9%) in Q4 2020 was higher than the EU average (7.5%).
The method used to calculate these unemployment figures is defined by the International Labour Organisation (ILO), which includes all available job seekers – ILO definition of unemployment.
The standard official Swiss measure, which is further from what most European nations use, produces a lower rate. At the end of December 2020, this rate was 3.5%. However, this figure includes only those registered as unemployed, excluding those who are available and seeking work but are no longer registered. Much of the motivation to register with the unemployment office in Switzerland disappears once an individual has reached the end of their unemployment insurance.
More on this:
Official press release (in French) – Take a 5 minute French test now
For more stories like this on Switzerland follow us on Facebook and Twitter.